Real Estate Developer Experiences Speed and Scalability with NetSuite

NetSuite recently announced that Juan D. Nepomuceno Sons, a 36-year-old company which develops and leases commercial and residential real estate in the Philippines, has deployed NetSuite to modernize its business processes and support rapid business growth as well as manage end-to-end financial processes, from quote-to-cash and procurement to financial consolidation and reporting.

JDN Sons selected NetSuite to provide its financial management processes with greater speed, visibility and scalability as it prepares for the 2016 opening of a new commercial building called Entec II. Prior to the NetSuite implementation, JDN Sons used a 20-year-old legacy DOS-based application that resulted in lengthy delays to generate financial reports, high degrees of manual reporting, high costs for finance and accounting personnel, and a risk of inaccurate information. Modernizing its infrastructure with NetSuite has given JDN Sons the scalability to handle the company’s new developments, and to further grow its roster of more than 750 commercial tenants, while avoiding the need to hire additional accounting personnel.

Since deploying NetSuite, JDN Sons has been able to:

•Improve overall financial management efficiency by more than 50 percent, while achieving greater visibility into key financial metrics like expenses and tenant information based on real-time data.

•Reduce IT costs and better leverage resources to support operations at Entec II in Angeles City, a 26,000-square-meter space which will house about 120 tenants, including consumer-facing businesses and several large business process outsourcing (BPO) and IT firms. The new building is expected to generate roughly P15 million in monthly income, exceeding that of Nepo Mall, a shopping mall in Angeles City with about 200 tenants.

•Re-evaluate and evolve its business processes to become faster and more transparent with greater end-to-end controls.

To read more, visit the NetSuite News Blog.

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